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Session Laws, 1966
Volume 678, Page 864   View pdf image (33K)
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864                              LAWS OF MARYLAND                      [CH. 507

eral," and to repeal and re enact, with amendments, Section 113 (4)

of Article 77 of the said Code, title "Public Education," subtitle

"Teachers' Certificates, Salaries and Pensions," subheading
"Teachers' Retirement System,"
amending laws relating to Em-
ployees' Retirement System to permit ordinary disability retire-
ment after five years of creditable service and to increase the
minimum allowance payable upon ordinary disability retirement;
and amending law
s relating to Teachers' Retirement System to
increase the minimum allowance payable upon ordinary disability
retirement
.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 11(4) and (5) of Article 73B of the Annotated Code of
Maryland (1957 Edition and 1965 Supplement), title "Pensions,"
subtitle "In General," be and it is hereby repealed and re-enacted,
with amendments, to read as follows:

11.

(4) Upon the application of a member in service or of his depart-
ment head, any member who has had five [ten] or more years of
creditable service may be retired by the Board of Trustees, not less
than thirty and not more than ninety days next following the date of
filing such application, on an ordinary disability retirement allow-
ance, provided that the Medical Board, after a medical examination
of such member, shall certify that such member is mentally or
physically incapacitated for the further performance of duty, that
such incapacity is likely to be permanent, and that such member
should be retired.

(5) Upon retirement for ordinary disability a member shall

receive a service retirement allowance if he has attained the age of

60, otherwise he shall receive an ordinary disability retirement
allowance which shall consist of:

(a) An annuity which shall be the actuarial equivalent of his
accumulated contributions at the time of retirement; and

(b) A person which, together with his annuity, shall provide a
total retirement allowance equal to one seventieth of his average final
compensation multiplied by the number of years of his creditable

service, if such retirement allowance exceeds twenty-five seventieths

[one-quarter] of his average final compensation; otherwise a pension
which, together with his annuity, shall provide a
total retirement
allowance equal to twenty-five seventieths [one quarter] of his

average final compensation, provided, however, that no such allow-
ance shall exceed one seventieth of his average final compensation
multiplied by the number of years which would be
creditable to him
were his service to continue until the attainment of age 60.

(c) Any member who retired under the provisions of this sub-

section prior to July 1, 1966, shall be paid a pension computed in

accordance with the provisions of paragraph (b) above commencing

July 1, 1966.

Sec. 2. And be it further enacted, That Section 113 (4) of Article

77 of said code, title "Public Education," subtitle "Teachers Certifi-

cates, Salaries and Pensions," subheading "Teachers' Retirement

 

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Session Laws, 1966
Volume 678, Page 864   View pdf image (33K)   << PREVIOUS  NEXT >>


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